Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.012%

Price spread now: Binance against Injective−0.225%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.417%−$42 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.225%, 7d avg −0.046%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Binance is 0.179% cheaper against Injective than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ATOM/USDC PERP	1.7800	0.0110	pay 0.0014% / 1h	16m 53s	$649	$290K	12x
Short	Binance ATOMUSDT	1.7760	0.0100	get 0.0100% / 8h	2h 16m	$21.2M	$32.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BinancebpOrdersPrice spread, now −0.225%Rate

Funding earned: −$2.12
Price spread: −0.225% → −0.046%: −$17.88
Slippage, 4 orders: −$86.73
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.74
Costs to cover: 0.967%
Break-even: never at this rate

Slippage from Injective: live order book, 17 min ago; Binance: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 17 min ago	36.80 bp	36.8 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	2.84 bp	11.8 bp −$12	30.1 bp −$301	114.3 bp −$11.4K	doesn't fit

ATOM on 25 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ATOM-USD	0.0000%	1h	1.7787	−0.074%	$62K	$5K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.7778	−0.124%	$489	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L +0.0001% / S +0.0001%	1h	1.7776	−0.137%	$789	—	150x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0008%	1h	1.7700	−0.562%	$24K	$4K	25x	as long as short
Variational Omni ATOM	+0.0039%	8h	1.7682	−0.663%	$564K	$81K	—	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.7751	−0.275%	$2.7M	$735K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.7760	−0.225%	$965K	$202K	20x	as long as short
Binance ATOMUSDTshort	+0.0100%	8h	1.7760	−0.225%	$21.2M	$32.9M	75x
Bybit ATOMUSDT	+0.0100%	8h	1.7750	−0.281%	$14.7M	$10.5M	75x	as long as short
OKX ATOM-USDT-SWAP	+0.0100%	8h	1.7740	−0.337%	$4.9M	$5.9M	50x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ATOM_USDT	+0.0100%	8h	1.7770	−0.169%	$2.4M	$862K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.7750	−0.281%	$8.4M	$5.2M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.7770	−0.169%	$1.6M	$721K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.7760	−0.225%	$6.6M	$3.1M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.7760	−0.225%	—	$24.4M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.7703	−0.543%	$436K	$296K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.7773	−0.153%	$759K	$2.7M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.7776	−0.135%	$310K	$179K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.7780	−0.112%	$1.5M	$2.0M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.7764	−0.204%	$32K	$258K	10x	as long as short
Injective ATOM/USDC PERPlong	+0.0110%	1h	1.7800	long leg	$649	$290K	12x
BloFin ATOM-USDT	+0.0117%	8h	1.7790	−0.056%	$1.1M	$356K	75x	as long as short
GMX ATOM/USD [ETH-USDC]	L +0.0198% / S −0.1340%	1h	1.7778	−0.121%	$2K	—	120x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.7786	−0.080%	$2K	—	25x	as long as short
Kraken Futures PF_ATOMUSD	+0.0555%	1h	1.7777	−0.131%	$2.9M	$861K	50x	as long as short